WondrejBtc

Education

Satoshi’s Time-Traveling for Knowledge #3

Thanks! 
Any tips where Satoshi should travel today for another knowledge? 

# **Destination: Medieval Venice, 1100 AD**

*How did Venice build its trade empire through collaboration, innovation, and trust in decentralized networks?*

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## **Venice: A City of Merchants and Innovators**

In medieval times, Venice was a symbol of freedom and prosperity. Unlike the monarchies that dominated Europe, Venice was a republic – a city-state where important decisions were made by the Council of Nobles, and (the Doge, the elected chief magistrate of Venice who served as a ceremonial head of state with limited power), not an absolute ruler. Venice became synonymous with innovative approaches to governance, banking, and trade networks, which led to its rise as one of the most powerful trading centers of its time.

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### **Decentralized Trade Networks**

The success of Venice lay in its trust in decentralized trade networks. Every merchant, known as a **patrician**, could freely develop their trade activities and connect with others. While elsewhere trade was often controlled by kings and local lords, Venetians believed that prosperity would come from a free market and collaboration between people.

Unlike feudal models based on hierarchy and absolute power, Venetian trade networks were **open** and based on **mutual trust**. Every merchant could own ships and trade with the Middle East, and this decentralized ownership of trade routes led to unprecedented prosperity.

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### **Story: The Secret Venetian Alliance**

A young merchant named **Marco**, who inherited a shipyard from his father, was trying to make a name for himself in the bustling Venetian spice market. In Venice, there were many competitors, and competition was fierce. Marco, however, learned that an opportunity lay outside the traditional trade networks – among **small merchants** who were trying to maintain their independence from the larger Venetian patricians.

Marco decided to form an alliance with several other small merchants. Together, they began to share ships, crew costs, and information about trade routes. By creating this informal network, they were able to compete with the larger patricians who controlled the major trade routes. Through **collaboration** and shared resources, they began to achieve profits they would never have achieved alone.

In the end, Marco and his fellow merchants succeeded, not because they had the most wealth or influence, but because they trusted each other and worked together. They proved that small players could thrive, even in a market dominated by powerful patricians.

Satoshi ends his journey here, enlightened by the lesson that even in a world where big players exist, trust and collaboration can ensure that the market remains free and open for everyone.

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## **Venice and Trust in Decentralized Systems**

Venice was a symbol of how **decentralization** could lead to prosperity. There was no need for kings or powerful rulers, but instead, trust and collaboration among merchants led to the creation of a wealthy city-state.

Venice demonstrated that when people collaborate and share resources, they can achieve greater success than in a hierarchical system with a single central ruler.

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## **A Lesson from Venice for Today's World**

Today, as we think about the world of Bitcoin and decentralized finance (DeFi), Venice reminds us that trust among individuals and collaboration are key to maintaining independence and freedom. Just as in Venice, where smaller merchants found strength in collaboration, we can also find ways to keep the crypto world decentralized, open, and fair.



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## **Key**
| Term | Explanation |
|------|-------------|
| Doge | The elected chief magistrate of Venice who served as a ceremonial head of state with limited power. |
| Patrician | A member of the noble class in Venice, typically involved in trade and governance. |
| Decentralized Finance (DeFi) | A financial system that does not rely on central financial intermediaries, instead using blockchain technology and smart contracts. |



Design

💥 JABBB #09 :: Bitcoin Flower God

Design_r

It's simple.
Mr.Bitcoin tries to save the flower princess from the horrible devilish Saylor with layser eyes to save the day.
Mr.Bitcoin is a true savior

![](https://m.stacker.news/59184)

Stacker Saloon

saloon

Im trying to figure out another historical story for Satoshi's time travel episode on SN, because today it's raining outside in central Europe, unfortunately just when I'm off from Fiat work. 
How's the weather on your side guys?

![](https://m.stacker.news/59167)

bitcoin

Peter Todd forced into hiding after HBO doc claims he invented Bitcoin

Rsync25

It's sad i wroted about it on Nostr back in the days..Hal Finney get robbed bunch of times just because of the Satoshi rumor...So instatly that the BS documetary went out, i was like poor Peter, he will be now followed by psychopats who wants to steal satoshis keys...

note1v4lyruhy3dssd5cmv9v6e7lctr96wav6nqdh9ver4r2s5sgwmesseh78l4

@WondrejBtc's bio

Thanks!
Btw  do you like Satoshis stories? 

**Destination: Medieval Iceland, 930 AD**



*What lead almost 100 years old decentralized grouping of Icelandic settlers to start centralization and what we can learn from it in modern days?* 



***The Icelandic Commonwealth and the Danger of Centralized Power***



In 930 AD, Iceland underwent a pivotal moment in its history. After nearly a century of living without kings, formal government, or centralized authority, the Icelanders decided to establish a parliament—***Alþing***. 



**Iceland Before 930 AD**



Iceland was settled in the 9th century, primarily by Norse settlers seeking to escape the *rule of kings* in Norway. This new land, with its rugged landscape filled with volcanoes, hot springs, and vast uninhabited plains, offered refuge to those who desired ***freedom and independence*** 



For almost a ***hundred*** years, Icelanders lived without a formal state. Society was organized around family ties and personal agreements. 

Power was decentralized, divided among various ***goðar***—chieftains or leaders of local communities. These goðar were not rulers but intermediaries in disputes and protective patrons of their followers. People turned to them for help negotiating peace or resolving conflicts, but there was no ***central*** authority to impose laws or collect taxes.



This system of ***personal responsibility*** and mutual aid was the cornerstone of Icelandic society. 

If conflicts arose, they were resolved through negotiation between individuals or families. Many Icelanders took pride in maintaining order without the need for a centralized state.

By 930 AD, Iceland thrived on its simple way of life. Its inhabitants sustained themselves through fishing, herding, and trade. Farms sprouted across the country, often miles apart, and people were accustomed to self-sufficiency. The distance between settlements and the harsh terrain made travel difficult, further reinforcing the need for local relations and decentralized governance.



However, this decentralized way of life was ***not without problems***. As the population grew and wealth began to concentrate in the hands of some ***agressive*** goðar, disputes became more frequent. Personal conflicts between powerful families sometimes escalated into ***violence***, which started to affect entire communities. 

In this context, the idea of a formal parliament—Alþing—began to take shape as a way to maintain peace and resolve these disputes.



**Alþing**



The Alþing is one of the oldest parliamentary institutions in the world, established in 930 AD in Iceland. It served as a national assembly where chieftains, known as goðar, and free men gathered at ***Þingvellir*** to settle disputes, create laws, and maintain social order. The Alþing functioned as both a legislative and judicial body, where people could present grievances and seek resolutions. Although there was no centralized ruler, the Alþing became a key institution for organizing Icelandic society and resolving conflicts through a legal framework rather than violence.



While this was seen by many as a step towards civilizing the resolution of disputes, some feared that this move would lead to the loss of the freedom that Icelandic settlers had cherished for so long.



**The Story: A Family’s Loss in the Shadow of the Alþing**



The story begins with ***Úlfljótur***, a man sent to Norway to study its laws. Úlfljótur believed that Iceland needed a better way to resolve disputes among powerful goðar and maintain peace. After years of studying abroad, he returned with a legal system that would form the basis of the Alþing.



Úlfljótur joined forces with his half-brother, ***Grímur Geitskör***, who was tasked with finding a suitable location for the assembly. After a long search, Grímur discovered the wide plains of ***Þingvellir***, a dramatic landscape that proved ideal for public gatherings.



While many Icelanders, especially the powerful goðar, welcomed the establishment of the Alþing as a means to maintain order, one of them ***Hallr the Saylor*** was almost in agonia. He saw an opinion how to become even more stronger. 
But not everyone was in agreement. ***Hrafna-Flóki Vilgerðarson***, the legendary explorer who had discovered Iceland and given it its name, was deeply skeptical. Flóki, who had made his living fishing and trading with other settlers, had always relied on unwritten rules of mutual respect and honest dealings among free people. The idea of a ***centralized*** parliament filled him with distrust.

***Hallr the Saylor*** visited Flóki with asking to go to on his side with asking and
Flóki asks

*“Why should we need laws crafted by a few men far from our homes?”* Flóki asked during a public gathering. *“Iceland has been a free land where every man governs his own affairs. What will Alþing bring, other than power for those who crave to rule?”*

***Hallr the Saylor*** he says *because it will help mostly the people he cares about and it will make the community thrive and that's what we're all about*

And unfortunately, that kind of faking was enough for ***Saylor*** to convince the naive Flóki 
**Drama at Þingvellir: The Hidden Agenda of the Goðar**


**Fateful night**

In 930, the first Alþing was convened. The goðar, including Úlfljótur and other powerful chieftains, gathered at Þingvellir to establish a legal framework for resolving disputes. Hrafna-Flóki did not attend the assembly, but his grandson, young ***Þorleifur***, traveled in secret to witness what was happening.



Behind the scenes, Þorleifur discovered that some goðar, especially ***Hallr the Saylor*** (fictional character created for drama), were planning to use the Alþing to strengthen their own power. Rather than serving as a tool for fairness, the parliament was becoming a mechanism for a ***few individuals*** as Saylor to consolidate wealth and influence. Hallr the Saylor, in particular, was positioning himself to control key disputes and resources of sound like food and water. 


On the day the Alþing was founded, the assembly was celebrated as a triumph of cooperation. But Þorleifur saw the truth—it was the beginning of a subtle yet devastating shift in power. Although no king sat on a throne, the seeds of ***monopolistic rule*** had been planted.



Returning home, Þorleifur confronted his grandfather, Flóki, with what he had learned. Flóki, a man who had always trusted in the integrity of Icelandic society, was heartbroken. 

On the other side of Iceland were Úlfljótur returning home after that Alþing surprisingly heartbroken too.
He realized too late that the Alþing, which he suggested to preserve peace, had laid the foundation for centralized control.  

It was allready late to do something and that is where Satoshi ending his travel to Medival Iceland and he’s going back to home, enlightened by mistakes of settlers.



**Conclusion: Iceland’s Lesson for Today**



The founding of the Alþing was a milestone in Iceland’s history, but it also serves as a reminder of how ***quickly*** power can be centralized into the hands of a few. While Icelandic settlers had survived for almost a century without a formal government, the Alþing symbolized the beginning of ***centralized power***, which would later have serious consequences for Icelandic society.


The lesson for us today is clear: centralization of power—whether in legal or financial systems—can easily lead to the erosion of personal freedom. In today’s Bitcoin ecosystem, we see figures like ***Michael Saylor***, who resemble the powerful chieftains of Medieval Iceland, using the legal framework of the Alþing to consolidate their power. Although Saylor’s large purchases of Bitcoin might not seem harmful at first, the danger lies in his potential to use Bitcoin’s strength to support centralized systems with monopolistic control.



Just as the Alþing, originally intended in good faith, it was eventually used by a few to dominate Icelandic society, Bitcoin’s decentralized promise could also be hijacked. 

If influential figures like Saylor push for solutions that favor centralization within Bitcoin’s infrastructure, they risk undermining its core values. What started as a tool for financial freedom could quickly become another system controlled by a select few, leading to the same monopolistic dominance that Bitcoin was meant to resist.

**Just don’t sell your coins to Saylor!**

Satoshi’s Time-Traveling for Knowledge #2

**Satoshi’s Time-Traveling for Knowledge**

**Czechoslovakia 1953**



*How Czechoslovakia Erased Savings Overnight in 1953 and What It Teaches Us About State-Controlled Currencies?*

This is my Family story that could happened before to everybody and now, it dont need to happen to anybody, just because of Satoshi. 

So in honor of Satoshi, I’ll make this series of how "Satoshi time travelling" back in the history to get some knowledge so he will be able to save us one day with one “white piece of paper”. 

This series will be focused on monetary history and the history of government’s monopoly positions over citizens. 

Hope you will enjoy reading it and you will get some knowledge as a Satoshi.



In 1953, Czechoslovakia experienced an event that left an indelible mark on the characters of my fellow ancestors so basically also on me through parenting. 
It was a lesson in the power governments have over currencies they control and how changes in monetary policy can drastically affect the lives of ordinary people. This is a story my grandmother told me, a reminder of why we should think critically about the future of money—and perhaps why Bitcoin might offer a way forward.


**My Family’s Story: Losing a Lifetime of Savings Overnight**

In the spring of 1952, my grandmother was born in Czechoslovakia. Her grandfather, my great-great-grandfather, was a hard-working businessman who wanted to ensure a better future for his son and family. As a gift to celebrate my grandmother’s birth, he gave her father a chest full of coins to save for the family’s future needs. It was an investment in security and stability.

But just a year later, in 1953, the government announced a radical currency reform. The night before the reform, the head of state reassured the public that their money was safe and that the currency was strong. In truth, the government had already prepared new banknotes, printed in secret abroad of Soviet Union, and was ready to devalue the currency in a move that would devastate millions of people.

The reform happened literally overnight. People who went to bed feeling secure woke up to find their money almost worthless. Amounts up to 300 Czechoslovak koruna (Kčs) were exchanged at a rate of 5:1, but anything above that was exchanged at a punishing rate of 50:1. If someone had 1,000 Kčs, they would receive only 74 new Kčs—a devastating loss that wiped out the savings of many families, including mine.


**What This Teaches Us About Fiat Money**



This reform wasn’t just a monetary change; *it was a power move*. The government understood that wealth represented independence. By destroying people’s savings, they increased their control over the population. And this story isn’t unique to Czechoslovakia—history is full of examples where governments devalued their currencies to maintain power and we are going to cover all these stories in this series.

From hyperinflation in Germany to similar reforms in other communist nations, fiat currencies controlled by the state have been repeatedly manipulated to serve political ends.

These events show just how dangerous it can be to rely on fiat money, which is fully under the control of governments. People who save for their retirement or their children’s futures can lose everything overnight because of decisions over which they have no control.



**How Bitcoin Offers an Alternative**

This story from my family showed me why state-controlled currencies aren’t always reliable. When a government controls the currency, it also controls our savings, by extension, our lives. Fortunately, today we have an alternative that removes this power from governments thanks to “Peter Todd” of course xd —Bitcoin.
But all this is what all of you know deffinetly

Bitcoin is not controlled by any central authority. Its supply is fixed, and it cannot be arbitrarily devalued. It’s a way to store value outside the reach of government intervention. Where fiat currencies can be devalued or destroyed overnight, Bitcoin offers stability based on mathematical rules that no one can change to suit political needs.




***Conclusion: Lessons for Today***



The 1953 currency reform in Czechoslovakia is a warning we should take seriously. History is full of moments when governments betrayed the trust of their citizens in the name of maintaining power. Bitcoin is a response to these historical lessons—it’s a tool that allows individuals to preserve their wealth without fear of political manipulation.



My great-great-grandfather lost his savings overnight, but they were prepairing it for more than one night.0 I hope these stories remind us that we can build a better future if we learn from the mistakes of the past and explore new ways to protect the value we create.



**Satoshi gave us a chance to make this change. It’s up to us to decide whether we’ll take it.**


Journey is the destination 🧙
A trustworthy pleb who no longer takes L’s 🕊️

23y.o. #NodeRunner
#NostrOnly user 💯🫡

“The goal is to FUCK THE BANKS AND GOVERNMENTS, not to fuck each others...”

#WholeCoinJourney